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What is the best "goodness of fit" test for a four parameter curvilinear regression?
I have 15 points and it seems that a four parameter curve should almost always fit the line very well (Rsquared >0.98). Does it make sense to have a high threshold (r squared >0.99) or is there a better way to describe the goodness of fit?
1 Answer
- modulo_functionLv 71 decade agoFavorite Answer
With only 15 points you may be 'overfitting' the data by using a 4 parameter fit. I doubt if there's really that much structure to the data. Keep in mind that you can fit an nth order polynomial exactly through n-1 points, and so you'll always get a larger r squared with a higher order fit.
